Thanks for your responses.
In the last 72 hours, I have had all kinds of input from veteran test takers (like some of you guys) and some admission consultants. I am reassured that 700 is actually a very respectable score, with a good chance of getting into top schools, as long as the rest of the profile is strong. It will likely not be the reason for getting kicked out of the pool. However, it will also not be screaming "pick me!" when it comes to acceptances - it will have to be one of the other aspects of your application that will seal the deal. Not sure if I can post links here, so google for "A 700 GMAT score is a nice round number". This article made me feel like a million bucks again.
Since this was my first try, the conclusion I have reached is that it makes sense to give the exam again if I can afford to cough up another $250 and can make some time to either improve my skills or, at the very least, keep whatever I know fresh and polished for another 31 days. Personally, I can not afford to take time off for it and, with my current work load and other commitments, can not commit too much time to it after work on weekdays. Realistically, I can commit to write one CAT per weekend and do some OG questions on weekends and some weeknights, and retake the exam in 5 weeks.
Here are the possible outcomes:
1) Lower than 700, likely with a better quant and definitely with a lower verbal score
This will kind of suck, but atleast I will not have any "what ifs" in my mind. I will be at ease that atleast I gave it another shot (whatever kind of shot I could give with my resource limitations). I will still have my 700 from last time and will not be much worse off than before (except for some lost time and cash). Will definitely not be on the fence any more. Will most likely move on. (I have heard conflicting info on how some universities like INSEAD treat multiple scores - if there are any that actually take you best quant percentile, and best verbal percentile, then increasing your quant at the expense of verbal in this option will still be an okay win!)
2) 700 again, likely with a better quant score and a lower verbal score
Since I do not expect to score a better verbal score (will not be focusing much effort on verbal in my prep, except to try to keep whatever I know fresh), the likely breakdown in case of another 700 will be a stronger quant and a weaker verbal. I think this will be a decent scenerio, as it may give me the 80/80 balance that seems to be the holy grail that everyone keeps on talking about.
3) Higher than 700, likely with a better quant and possibly with a similar verbal
This, obviously, will be awesome! As long as I can move that quant closer to 80, I will feel "mission accomplished!" and will be totally satisfied.
Per the above analysis, assuming I am not killing myself over the next 5 weeks, even the worst option (#1) is not too bad - atleast I will have a clear head and will be ready to move on. Although, it is known as the worst option for a reason - its not as sweet as the other two!
Sudz10: Seems like you lined up with option 1 and you still have your 700 from last time. Have a read of the article I mentioned above. 700 is a pretty respectable score. I am not sure about retaking a third time (have not been in that situation). But I do feel that if it is going to keep you up at night, just do it! Give it a third time and promise yourself that it will be the last time. Good luck!!!
chunkyIPA: Seem like you are hitting the nail straight in, and you plan to do it over a number of blows. More power to you! I wanted to do it in one blow
evanr2: Totally agree with you. I found that I was taking too long on quant question. With the limited amount of time to practice, all I could do was to figure out when to guess and move on and when to keep on solving. You are absolutely right - for people who have done a lot of math through high school and university, the quant material is easy. It is the pace that one needs to work on. I think you should be fine - with your prep, you should have no problems getting a 720. Good luck with your exam! And yes, you can PM on this forum.
So does the logic that I mentioned above make sense? Look forward to hearing more thoughts.
). So, in retrospect, if I was to apply this year I would def be applying with my 700. (I do not intend applying this year so am thinking of retaking it)
